Citigroup CEO Jane Fraser has told CNBC she is convinced Europe is headed into a recession.
Speaking at the World Economic Forum Monday, Fraser said that a confluence of factors, including the war in Ukraine and resulting energy crisis, have left Europe vulnerable to a sizeable downturn even as other parts of the world show some signs of resilience.
“Europe is right in the middle of the storms from supply chains, from the energy crisis, and obviously just the proximity to some of the atrocities that are occurring in Ukraine,” she told Geoff Cutmore.
Asked if those factors left her convinced that Europe will experience a recession, Fraser said: “Yes.”
Continue reading Citi CEO Jane Fraser is convinced Europe will fall into a recession on CNBC
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